Prudential Securities

January 1 2003

A class-action civil suit is being launched against Prudential Securities, to recover investors' losses after approximately 400 investors bought $20 million in bonds which have been ruled to be illegal from the start, and therefore worthless. The municipal bonds that were issued by a 250-home Whidbey Island sewer district were highly recommended by Prudential brokers as unrated, well-secured bonds.

The plaintiffs are claiming that Prudential failed to check up on the legality of a $20 million bond offering issued on behalf of Holmes Harbor Sewer District in Whidbey Island. They claim that Prudential did not complete its duty to investors by checking up on the bond and doing due diligence before they recommended it to investors.

If you feel you qualify for damages or remedies that might be awarded in this class action please click here to fill in our form to submit your complaint.

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